EssilorLuxottica news and archive

EssilorLuxottica H1 profit rises

French ophthalmic company EssilorLuxottica (ESLOF.PK, ESLOY.PK), Wednesday reported that its net profit attributable to owners of the parent for the first-half of fiscal year 2024 climbed to 1.746 billion euros or 2.98 euros per share from last year's 1.655 billion euros or 3.03 euros per share. Revenue for the first-half of fiscal year 2024 5.2...

Business

Meta reportedly eyeing stake in Ray-Ban parent company

American tech giant Meta, owner of Facebook and Instagram, reportedly wants to take a 5 percent stake in EssilorLuxottica, the Financial Times (FT) reports. The French-Italian eyewear company was worth almost 89 billion euros on Thursday afternoon. EssilorLuxottica is the firm that makes Ray-Ban eyewear and was also behind the recent acquisition...

Business |Opinion Featured

EssilorLuxottica's gambit: Can Supreme regain its edge?

In a surprising turn of events, eyewear behemoth EssilorLuxottica is set to acquire streetwear icon Supreme for 1.5 billion dollars, as VF Corp. retreats from its once-prized asset. This deal, coming at a substantial markdown from Supreme's previous valuation, signals a pivotal moment for the brand and the broader streetwear market. VF Corp. had...

BusinessFeatured

Supreme acquired by eyewear giant EssilorLuxottica

Eyewear giant EssilorLuxottica has acquired New York-born streetwear brand Supreme in a deal worth 1.5 billion dollars, the transaction of which will be completed by the end of 2024, a press release revealed. In May, it was already speculated that VF Corporation, the parent company of Supreme and the owner of Vans, The North Face and Timberland,...

Business

EssilorLuxottica to launch first Diesel eyewear collection in 2025

EssilorLuxottica and Diesel have signed a licence agreement for the design, manufacture, and worldwide distribution of Diesel eyewear. The company said in a release that the agreement will be effective immediately until December 31, 2029, with an automatic renewal option of an additional five years. The first collection under the agreement will...

Business

EssilorLuxottica acquires Washin to expand its presence in Japan

Eyewear maker EssilorLuxottica has completed its acquisition of Washin Optical Co., a Japanese optical retailer with around 70 direct stores in the country. The acquisition is part of the eyewear group’s investment in ‘Made in Japan’ manufacturing and will allow it to strengthen its optical retail presence in Japan. Francesco Milleri, chairman...

Fashion |In Pictures

Roger Federer launches first eyewear collection

Tennis legend Roger Federer has launched his debut eyewear collection with Oliver Peoples, after signing an exclusive licensing deal with eyewear manufacturer EssilorLuxottica in May 2023. The four-collection partnership under Roger Federer’s ‘RF’ brand and Oliver Peoples brands launches with a six-piece line, including four sunglasses and two...

Fashion

Brunello Cucinelli reveals first eyewear collection under EssilorLuxottica

Italian fashion house Brunello Cucinelli has revealed its first eyewear collection through its partnership with EssilorLuxottica, set to go on sale globally. The label, which signed a 10-year licensing agreement with the manufacturer in November 2022, had previously stepped into the category through a 2021 collaboration with Oliver Peoples, an...

Business

EssilorLuxottica and Dolce&Gabbana confirm license renewal

Italian fashion house Dolce&Gabbana has announced the early renewal of their eyewear licensing agreement with eyewear manufacturer EssilorLuxottica. The new licensing renewal will see EssilorLuxottica continuing to develop, produce and distribute worldwide prescription frames and sunglasses under the Dolce&Gabbana brand. The existing agreement,...

Business

EssilorLuxottica and Michael Kors renew licensing partnership for a minimum 5 years

EssilorLuxottica (ESLOF.PK) and Michael Kors Wednesday said they have renewed their licensing partnership to develop and sell frames and sunglasses under the Michael Kors brand. The renewal, which is for a period of 5 years with an option for 5-year extension, will be effective from January 1, 2025, when the current agreement expires. The early...

Business

EssilorLuxottica posts 2023 revenue growth of 7.1 percent

In the fourth quarter, EssilorLuxottica posted revenue of 6,250 million euros, up 7.1 percent at constant exchange and 2.4 percent. The full year closed at 25,395 million euros revenue, up 7.1 percent at constant exchange rates. In terms of margins in 2023, the adjusted operating profit and the adjusted group net profit grew respectively by 7.7...

Business

EssilorLuxottica to develop eyewear collection for Moncler

EssilorLuxottica and Moncler have announced the signing of a licensing agreement that includes the design, production, and global distribution of Moncler eyewear. The company said in a release that the agreement will be in effect from January 2024 until December 2028, with an automatic renewal option for an additional five years. Commenting on...